This past December, Congress passed the SECURE Act of 2019. Short for Setting Every Community Up for Retirement Enhancement, this Act took effect on January 1, 2020. Among broader reforms, the Act increased access to workplace sponsored retirement plans and increased the minimum age at which retirees must begin taking required minimum distributions from IRA’s. These reforms are in an effort to help more Americans plan and save for retirement. In addition, the SECURE Act created new tax implications for heirs of retirement accounts such as IRA’s.